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Bank A is offering an interest rate (APR) of 8%, with monthly compounding. To save for the retirement, you plan to make a regular deposit

Bank A is offering an interest rate (APR) of 8%, with monthly compounding.

To save for the retirement, you plan to make a regular deposit of $390 every month starting from the end of this month.

If you will retire in 25 years, how much will you have in your bank then?

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